anyone sold car on Paypal?
 

I have my 2004 MCS for sale on NAM and Craigslist. I have had five responses wanting to pay full price using Paypal. I'm afraid of this ploy. These are not local people and they are buying sight unseen. What are your experiances using Paypal for a $11500 purchace?

who is arranging shipping?

Is your paypal the premium membership? (you'd have to pay a subscription) If you have the free paypal account, then the % that paypal takes is quite a bit more. You still have to pay them a percentage with the premium account, but it is less.

At any rate, paypal takes money from all sales over a certain amount. I sold a motor scooter and they used paypal to pay me and I got my asking price of $5,000 but only got about $3,500 - $4,000 in cash after paypal took money. I'd look into the terms and conditions fine print of Paypal's policy.

Basically, go with someone local who will pay with a check, or a suitcase full of money. Have you tried selling the car on Autotrader? They have an option to buy an ad that will stay up until the car is sold. I do not believe that they take any kind of percentage over that.

1. The Paypal fees would be outrageous and Paypal prohibits a seller from having a buyer pay the fees.

2. It is too easy for someone to use a stolen credit card # on Paypal. You'll be the one holding the bag in the end.

It's better to wait for a serious buyer (ie: someone who actually wants to see the vehicle in person.)

Scammers will buy sight-unseen and often will send you payment for more than the asking price.

Most banks have branches in other cities/states, so you can always suggest that the potential buyer send you a cashier's check from a bank that has branches in THEIR area and YOUR area. That way, you can take the check to the branch that is local to you and wait a few days for it to clear.

How are these potential buyers proposing that the title be transferred?

We've sold a few vehicles on AutoTrader, albeit not a MINI, but my '96 Chevy Pickup and my Husband's Chevy Blazer, all went well with both transactions. I'd be afraid of someone wanting to buy a car sight unseen, I'd say in your case it is best to be cautious for sure!! :nod:

If you feel weird about it, say no. Personally I think buying a car sight unseen via paypal sounds shady, but I'm cautious by nature.

Your PayPal Fees would be:
$333.80

And you would receive:
$11,166.20

Not that huge of a loss.

I'm concerned that two of the potential buyers are in Vancover, BC. The buyer said a truck would pick up the car. Nothing was asked about the title.

run -don't walk. this sounds and smells like a scam . craigs list brings all sorts out from under rocks.

I'm guessing that none of the buyers are from the NAM post.

You're in KC, MO...IT IS odd that not just one, but TWO people from the SAME city in another COUNTRY "just happened" to be searching the KC, MO Craigslist for MINIs? Of ALL the Craigslist city listings out there, TWO people just happened to come across yours?

I can see it now...you accept payment via Paypal.

The truck comes to pick up the MINI.

A week or so later the buyer is contacting you wanting to know WHERE their newly-purchased MINI is because it hasn't arrived or it was delivered elsewhere or it can't make it across the border with proper titling, or...or...or...

The last thing you want is for someone to open a "non-receipt of goods" claim or "item not as described" claim with Paypal.

If you're waiting for people to tell you to go ahead with a long-distance Paypal transaction, please keep this in mind: They won't be able to help you if you get scammed.

Go with your gut. If you're still unsure, get into a detailed email conversation with the sellers. You'll find out soon enough if they are trying to scam you or not if they try to send you payment for more than your asking price...or if they want to send extra money so that you can pay the vehicle transport driver.

There ARE ways to weed out the scammers...offer to use a vehicle transport company that is local to you. If they refuse, it's most likely a scam.

Good luck.

I had the funds wired directly to my account - After wards I sent the car to Denmark.

If it was me, I would not accept Paypal for that amount, or if I did, I would delay the shipping at least 3 weeks to make it less likely the funds are fraudulent. Wire transfers are more secure. Have him wire the $$ and take off $50 for his fee.

Doesn't sound kosher to me. Ask for a wire transfer or a bank check, and see what the response is.

What he said.

dont do it. the buyer can request a refund from paypal, and youll be sol once they take ownership of the car. youre better off droppimg the price by 333.80 and selling locally for cashmoney

Don't do it this is a typical scam. Get cash, and check the bills people have been washing them alot in the Atl area. Even local sub shops now have expensive scanners to check the bills.

Yep, this is a real problem for Ebay sellers too.....especially people claiming they didn't recieve what they bought and Paypal reversing the charge and taking the money out of your account. Seen it happen many times, but seems especially prevalent with cars.

You really have to watch for scams these days ....

I just had a go around with a guy from California on some stereo equipment I listed on CL In KC. My radar went up even tho he seemed like a nice, normal guy on the phone, after a few days I knew what he was - and I was glad I hadn't shipped my expensive stuff alll the way across country.

A big stack of dead presidents and/or go to the bank with the new owner, sign and notorize the title right there at the bank and walk out with cash is the best way to go these days.

Very good recommendation MINIdave, and thanks to the others who responded.

Looks like you are worried about paypal transection fee to buy car.